But that doesn’t mean we can’t book market-beating, double-digit gains.

While doom and gloom dominate Wall Street, an earnings surprise has vaulted one of our newest trades higher by 20% overnight.

Here’s how it happened…

Just two short weeks ago, we told you that the market’s biggest, most recognizable growth stocks were ripping higher. The big boys grabbed the wheel while the more speculative stocks took a break.

One of these popular stocks flashed a huge buy signal. And it’s poised to take its rightful spot as one of the top comeback plays of the second half of the year after a massive earnings surprise.

I’m talking about Netflix (NASDAQ:NFLX).

Unless you were living under a rock, you remember that just a handful of powerful stocks were propping up the major averages last year. The famous FANG foursome – Facebook, Amazon, Netflix, Google—was leading the way. While the major averages went nowhere, these stocks shot to new highs.

2016 has a different vibe. Facebook and Amazon have stayed strong since the winter market swoon. Google shares finally turned higher in July. But Neflix wasn’t impressing investors. Folks were concerned that the company’s best days were behind it. The insane growth that propelled Netflix to a household name had hit a wall. Until now…

The forgotten FANG is back in action after blowing away expectations late Monday. If you thought growth was dead, look no further than these numbers:

Netflix booked earnings of 12 cents per share and revenue of $2.29 billion in the third quarter. That topped analyst expectations. But the real story is the streaming video service’s international push. The company was looking to add 2 million international subscribers, Business Insider reports. Instead, Netflix banked 3.2 million new international subs. That’s a huge beat!

“Netflix is making a big bet that the same mix of edgy original content and library programming that has taken the U.S. media world by storm will translate overseas,” The Wall Street Journal reports. “The September quarter’s performance was better than the year-ago quarter’s 2.74 million international subscriber additions, but in the intervening time Netflix has launched in more than 130 countries, elevating its growth potential substantially.”

You had me at growth…

When it comes to a story stock like Netflix, investors don’t give a damn about earnings multiples. They want to see breakneck expansion into new markets with new services and technologies. Netflix delivers on all counts.

Even seasoned analysts are admitting that they have no idea how to properly forecast Netflix’s potential in overseas markets. Thanks to countless different laws and regulations, it’s nearly impossible to accurately predict how Netflix will fare in the long-run.

As traders, we can take advantage of the confusion. While Wall Street analysts chase their tails, you were able to capitalize on a well-known stock that was quietly breaking out. Sentiment was decidedly bearish—adding more fuel to the earnings fire we’re seeing this week.

While everyone else fretted over Netflix subscriber counts and its lackluster performance, we bought the big breakout above the 200-day moving average. Netflix shares smashed through resistance to four-month highs, offering up the opportunity for fast gains heading into an unpredictable earnings season.

This story originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.